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Mortgage Market Update
Pete Ruberti
Pete Ruberti
Saturday, October 31, 2026
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Your financial picture may have shifted |
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Life changes after you get a mortgage. So does your ability to leverage what you've built—here's what I'm seeing with borrowers right now.
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National Mortgage Rates · October 29, 2026
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Conventional 30-Year
7.15%
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Source: Optimal Blue daily mortgage indices via FRED
Rates shown are national mortgage index rates and are provided for informational purposes only. Actual rates vary based on credit profile, loan amount, and market conditions. Please contact us for a personalized rate quote.
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Affordability Check
Your budget may have changed more than you think
If you bought a home a few years ago, you locked in your payment at that moment. But your financial picture has likely shifted since then—maybe you've paid down debt, built more equity, or your income has grown. Even if rates haven't moved, these changes can open doors you didn't have before. Some borrowers find they can tap their equity for a renovation or consolidate higher-interest debt. Others realize they could have qualified for a larger loan today than yesterday. It's worth checking in on where you actually stand now, not where you stood when you first bought. The conversation often surprises people in a good way. I'd be happy to walk through what's changed in your situation and what options might make sense.
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Tip of the Week
Refinancing resets your amortization clock. If you're 10 years into a 30-year loan, consider a shorter term to avoid paying more total interest.
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Tips for Homeowners
Co-Signing a Mortgage: What You're Really Agreeing To
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1.
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Co-signing makes you equally responsible for the debt. If the primary borrower misses payments, your credit score takes the same hit and the lender can pursue you for the full balance.
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2.
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The co-signed mortgage debt appears on your credit report and counts toward your DTI. This can limit your ability to qualify for your own financing until the loan is paid off or refinanced out of your name.
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3.
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There's no automatic way to remove yourself as a co-signer — the primary borrower must refinance the loan in their name alone. Get this understanding in writing before you sign.
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Have questions about how any of this affects your mortgage or home purchase? We're here to help — reach out to the Pete Ruberti team any time and we'll walk you through your options. |
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